What Is the Employees' Provident Fund?


Quick Answer

The Employees' Provident Fund is a social security program administered by the Ministry of Labour and Employment for the Government of India, as explained by the Employees' Provident Fund Organisation. It was first established in 1952 and covers all states except for Jammu and Kashmir.

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Full Answer

According to the Employees' Provident Fund Organisation, the fund provides insurance, pension and general funds schemes to manage members' money. The term "Employees' Provident Fund" is used by multiple countries to describe a social security program, such as those administered by the government of Sri Lanka since 1958 and the government of Nepal, as detailed by the Central Bank of Sri Lanka and Karmachari Sanachaya Kosh.

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